Kuala lumpur: The government anticipates that Malaysia’s trade surplus will remain stable under the 13th Malaysia Plan (13MP), supported by the growth of high-value industries and a transition towards increased economic complexity, said Datuk Seri Amir Hamzah Azizan. The Finance Minister II stated that while imports are expected to stay elevated, in line with the country’s economic development needs, Malaysia has long recorded a current account surplus and positive trade balance.
According to BERNAMA News Agency, Amir Hamzah emphasized that 13MP is designed to boost national competitiveness through structural economic transformation, shifting towards more complex and high-impact sectors, including artificial intelligence (AI), digitalisation, and green technology. He stressed the importance of moving forward to avoid being overtaken by other nations and highlighted the need to enhance economic complexity to generate high-skilled jobs, raise wages, and maintain competitiveness.
On trade policy, Amir Hamzah mentioned the need for a more pragmatic approach and a willingness to shift away from legacy policies to align with current global conditions. He pointed out that Malaysia should move beyond reliance on foreign labor by increasing economic complexity, which would create more job opportunities, encourage the adoption of technology and digitalisation, and better leverage the domestic workforce. Improvements in education and training systems were also noted as essential to reducing dependence on foreign labor.
Amir Hamzah noted that Malaysia’s economic outlook remains positive despite global uncertainties, supported by strong domestic institutional investment and a resilient economic structure. He cited the International Monetary Fund’s (IMF) revised GDP growth forecast for Malaysia, which stands at 4.5 per cent, as a reflection of confidence in the country’s economic direction. The Finance Minister II added that the 13MP’s holistic approach would be reinforced by close monitoring and immediate intervention mechanisms to ensure effective implementation.
The Finance Minister II called on all stakeholders to support the transformation laid out in 13MP in the interest of national prosperity and inclusive progress. According to projections under 13MP, Malaysia’s trade balance is expected to remain in surplus, reaching RM116.3 billion by 2030. Additionally, the current account surplus is anticipated to stand at 2.2 per cent of gross national income, while gross exports are projected to grow at an average annual rate of 5.8 per cent over the five years starting in 2026.